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Cable Update (GBPUSD)

  • #658,141
  • May 5, 2022 10:30am May 5, 2022 10:30am
I think NFP HAS BEEN TRADED! NFP tomorrow will be dull.
  • #658,142
  • May 5, 2022 10:36am May 5, 2022 10:36am
Quoting Whale
{quote} Im out +9 Limit long 1.2358
Tp. 1.2425

38.2% of the last swing low aka wave 3
as long we saw the low today
  • #658,143
  • May 5, 2022 10:38am May 5, 2022 10:38am
Buy now??
  • #658,144
  • May 5, 2022 10:39am May 5, 2022 10:39am
Also local Uk elections today. Not as big as general but still a defeat for the Tory’s could push the pound further down
Insane in the Brain..
  • #658,145
  • May 5, 2022 10:40am May 5, 2022 10:40am
Longing gold at 1875
  • #658,146
  • May 5, 2022 10:42am May 5, 2022 10:42am
Quoting mtako
For my own shorts, I am not convinced till price breaks the low of this 8h to close in 10min. Only then can I place SL of my last MAIN position (one of many which had highest % of chance to make it = >volume = support buddy for all the other weeee shorts that could be taken in this good quality trend) at BE
All my >2370 positions are at BE at last ! By last MAIN, I was talking about my
Quoting mtako
8H momentum in trend trigger close, sell limit 2632 SL100
and with this last 8H low break, SL moved at BE earlier than expected; see CHART to illustrate this live share along with my first MAIN position(they both work hand in hand!), which is
Quoting mtako
{quote} Lost that one with the 1H BO of >3030(-39), now finally selling again Sold 3112.
dynamic SL now at 2650

After battling, taking small wins, losing big and small, getting a million BEs, I am happy to have 13 surviving healthy shorts still for the longer-term, just in case. All my other surviving live shared shorts like
Quoting mtako
{quote} I am so very happy to have been taken out so early -25. Now I wait for 1H bear, the low -1 of which I will sell with TP high +1 whatever high is made from now till then, and I will do this even if it only happens in a decade !
which entry was 2604. And
Quoting mtako
...Sell stop 2539 2519, 2495, 2472, 2455...
, which I was 20 to 60pips away from losing, all have now their SL at BE also. These are a set of aggressive selling I have had in previous longer-term pullbacks also, but this time I took the time to share. What another crazy day! Nice to be here with you all...Back to spring cleaning time !

Done for day, and even maybe for the month, if this goes well. Dreaming of prolonging my hibernation folks , probably throughout the summer. And I am not kidding at all this time. If this move pursues, I'll just do just that.

Cheers everyone, take good care , as we never know when we won't be able to do what we love and be with who we love. My tonight prayers are especially with you and your loved ones dear StJoeForex .
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #658,147
  • May 5, 2022 10:48am May 5, 2022 10:48am
1875 gold support/resistance
  • #658,148
  • May 5, 2022 10:48am May 5, 2022 10:48am
Liquidity above 1.2412
price will visit there today probably.

Adr Almost 300, cool.
  • #658,149
  • May 5, 2022 10:48am May 5, 2022 10:48am
Quoting ScalaFX
Not good but No sell for me at this level, light another buy
These recent market moves seem to be staging a war between fundemental and technical analysis.

Today's fall looks totally uncalled for, only one reason makes sense to me now, institutions are setting a certain price we don't know. Tomorrow is the last hope for bulls.
I like your team spirit, hope your bulls don't run out of curd to chew on, I WOULDN'T ADD ON ANY BUYS AT THIS POINT until tomorrow LO.

Best wishes,
+256
Face 'ur fears & tame 'ur greed
  • #658,150
  • May 5, 2022 10:51am May 5, 2022 10:51am
Quoting JereMi256
{quote} These recent market moves seem to be staging a war between fundemental and technical analysis. Today's fall looks totally uncalled for, only one reason makes sense to me now, institutions are setting a certain price we don't know. Tomorrow is the last hope for bulls. I like your team spirit, hope your bulls don't run out of curd to chew on, I WOULDN'T ADD ON ANY BUYS AT THIS POINT until tomorrow LO. Best wishes, +256
Thanks mate! Yeah! Probably all this move will be coreccted like yesterdays, many pips to you! Cheers!
People don't plan to lose. They lose because they don't plan.
  • #658,151
  • May 5, 2022 10:54am May 5, 2022 10:54am
Quoting JereMi256
{quote} These recent market moves seem to be staging a war between fundemental and technical analysis. Today's fall looks totally uncalled for, only one reason makes sense to me now, institutions are setting a certain price we don't know. Tomorrow is the last hope for bulls. I like your team spirit, hope your bulls don't run out of curd to chew on, I WOULDN'T ADD ON ANY BUYS AT THIS POINT until tomorrow LO. Best wishes, +256
Both BoE and Powell put the interest rates at the same level and both announced no further plans for more drastic measures, between the 2 the money is going for the US debt, so buy dollars, that's why the US is going up and continue the crush all the other currencies. My view anyway.
  • #658,152
  • May 5, 2022 10:58am May 5, 2022 10:58am
Quoting Learner-xx
When I was introduced to trading, I was told the news are used by market makers to accomplish their goals. I was told to stay clear of RED News releases, At least an hour before the news get released, and then I can trade again an Hour after the RED rnews. Took my morning trades off and now waiting to see if GU will offer a retracement back into the range during the US session. GBP keeps making higher peaks and usually, when a peak is formed, price will continue to trade away from that peak. What you saw yesterday during the news was that Market...
Managed to add a few dollars on the retracement. Missed GBPNZD and abstained from GU itself. I have a fear of trading the majors, they always misbehave As you can see, USD is pulling it down. Time for bed now. We will see what comes tomorrow. Green pips to all. If today was a bad day, wait for tomorrow for something better to catch once again
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Executing trades with precision!!
  • #658,153
  • May 5, 2022 11:00am May 5, 2022 11:00am
I see you have been cleaning up EUR and GBP Looked @ your fxbook
I wish you would have come over to the cross-side.
JPY crosses just activated
  • #658,154
  • May 5, 2022 11:00am May 5, 2022 11:00am
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tl hit now poor gu . I am flipping here
  • #658,155
  • May 5, 2022 11:04am May 5, 2022 11:04am
Short Gbpusd. Tp 1.22700
  • #658,156
  • May 5, 2022 11:11am May 5, 2022 11:11am
Quoting Polimini
{quote} Both BoE and Powell put the interest rates at the same level and both announced no further plans for more drastic measures, between the 2 the money is going for the US debt, so buy dollars, that's why the US is going up and continue the crush all the other currencies. My view anyway.
Thanks, nice insight. That explains the battle i guess. However the markets are still acting random to some extent. Only swing traders can survive these scenarios.

Scalpers, retreat until tuesday!
Face 'ur fears & tame 'ur greed
  • #658,157
  • May 5, 2022 11:17am May 5, 2022 11:17am
Lot of moving here hedging back in
  • #658,158
  • May 5, 2022 11:22am May 5, 2022 11:22am
Quoting JereMi256
{quote} Thanks, nice insight. That explains the battle i guess. However the markets are still acting random to some extent. Only swing traders can survive these scenarios. Scalpers, retreat until tuesday!
Scalpers using short stop, they are the real survivors.
  • #658,159
  • May 5, 2022 11:27am May 5, 2022 11:27am
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not looking good in U.K. interest rates uo food up fuel up and pound down if your buying from outside the U.K. or going on holiday . But even thou I am English I have been selling since September . Once we see the bottom in a few years we will see 1.6500 .
  • #658,160
  • May 5, 2022 11:35am May 5, 2022 11:35am
Quoting Whale
{quote} Scalpers using short stop, they are the real survivors.
True but short stop is relative, yours could be 20pips another persons' 5-10 pips.

It all comes down to risk management, proper placement of positions and timing.
Face 'ur fears & tame 'ur greed
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